NPA has partnered with Aon Benfield and Partner Re to provide PACE organizations with reinsurance.

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The NPA reinsurance program offers the following advantages compared to what can be obtained by PACE organizations when purchasing insurance individually.

Competitive Pricing and Rate Stability

• Premium Savings Through Program Underwriting Credits: 30 percent in accumulated premium savings through the NPA Shared Services Program compared to commercial market rates for people who are elderly and chronically ill.
• Highly-Rated Carrier: Underwritten by Partner Re (Best rating: A Excellent; S&P A+).

Premium Refund Feature

• Based on overall claims experience of participating members.
• Four consecutive years of refunds totaling $809,310. The most recent refund represents an average 17 percent overall refund of the paid premium.

Broad Coverage and Flexible Terms

• Broad covered services language reflecting unique PACE capitated exposure.
• Favorable claim recovery terms under the policy, including extended claim reporting periods and no Average Daily Maximums (ADMs) on recovery found in commercial policies.
• Lowest minimum premiums in the marketplace, supporting start-up and modest enrollment programs.
• Lower per-participant deductible options not traditionally available in the commercial stop-loss market.

The long-term success of this program depends on the continuing participation of PACE programs. There is no obligation to participate, and there is no downside to exploring the option. 

Contact

• Melissa Mishuk, melissa.mishuk@aon.com